Facebook ethereum
Zuckerberg renamed the company from Facebook—which is associated closely with the centralized, commercially driven Web2 era—in part to demonstrate his commitment to drive future growth in new business areas. No proven business model The metaverse may potentially be years away, but companies are already buying up virtual property despite no proven business model.
Yuga Labs recently tried to build on its success as creator of the Bored Ape Yacht Club collection of non-fungible tokens NFTs by launching a test demo of its new Otherside metaverse that drew 4, people last month. Apart from the complexities of achieving a shared virtual experience in real time, however, it was unclear what would drive engagement beyond financial speculation, for example in the value of its Otherdeed NFTs, which trade on OpenSea.
Most video games already offer stories, quests, and skill trees, and gamers, a potential core audience comfortable living in virtual worlds, have been notoriously hostile to attempts to further monetize the space through the unnecessary addition of NFTs. Meta meanwhile is pinning hopes on this year's release of its Project Cambria, expected to be the successor to the Oculus Quest 2 virtual reality headset.
This environment is first principles, and it does not implicitly refer to AR, VR, AI, or any other "future" technologies. Instead, the Ethereum metaverse has always referred to trustless, open-source, private, and un-censorable applications. Facebook has never been a part of this crypto-libertarian mindset, and it does not seem to plan on joining. Mark Zuckerberg's version of the metaverse is "a virtual reality construct intended to supplant the internet, merge virtual life with real life and create endless new playgrounds for everyone.
Source: Author It seems that Facebook wants to change the definition of "metaverse" to instead refer to the connection between the digital and physical world. Ethereum's metaverse definition does not refer to this. Instead, the Ethereum metaverse is virtual first, with the option to include data from the physical world through oracles.
By Facebook's definition, it seems the company wants to become similar to something like WeChat, more so than it wants to coincide with Ethereum. Ethereum's Strengths If you understand how Ethereum works, then you know that it and Facebook are playing two entirely different games.
Ethereum is a closed network, that is simultaneously open to everybody. Ethereum is the "metaverse" because it is completely separate from all other networks. Oppositely, Facebook is not the metaverse; rather, it is a private company. Overall, Ethereum's traits as a currency network give it a few fundamental strengths over all other technology companies.
Most importantly, Ethereum is a technology built specifically for the wants of our increasingly digital society. Ethereum is a digitally free environment, whose laws are defined by a consensus protocol rather than by people. Ethereum upgrades through evolution specifically, through Ethereum Improvement Proposals. Tech companies upgrade through coordinated action. Since Ethereum can additionally be utilized as money, it maintains a uniquely strong network effect that works to pull and retain new users.
Conclusion Ethereum can be thought of as a different way to access and use what we collectively call the "internet. The main idea with all this is that technology is progressing in opposite directions, between centralization and decentralization, and it's important to identify each team and their subsequent incentives. This article was written by 1.
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